When running a pay per head bookie operation, collections is a subject that you should pay special attention to. If you are a bookmaking agent that has been able to provide your clients with everything they need to feel satisfied, then there is no reason for you not to collect the funds you’ve legitimately earned, and there is also not reason for them not to pay you.
Now, why would your players refuse to pay what they owe you? Or, why would they take a long time to do so?
Here are some of the possible reasons:
All of the aforementioned situations have a solution; however, you really need to make sure about what the situation is in order to apply the right one.
5 Options to Help You With Collections
Here we are offering you 6 different options that you can use to your advantage in relationship to get even the balkiest customer to pay what he owes.
1 – Call the Player
Before you take any other type of actions, the best thing you can start with is a personal call to your player.
Make sure to call when you feel the client is going to be able to talk to you in order to avoid getting excuses from the person about not answering because of being busy.
If the customer doesn’t owe you that much cash, chances are that he forgot about it and is willing to settle the cash debt right there over the phone.
If this is the case, make sure that the client is being honest about paying up in order to avoid having to call back again, or to take a different course of action.
2 – Send Your Own Version of a Past-Due Notice
Although you can’t send an official past due notice to a customer of your sportsbook operation, you can send your own version of it.
This is a resource that you can utilize after you have tried to contact the client over the phone, and you can also use it if the client is located away from your place of residence.
When it comes to sending a past-due notice, you can either do it vial email, or you can also go a step further and make the matter more serious by sending your notification via regular mail.
It is important to mention that you need to avoid being shy when trying to collect the funds that are rightfully yours.
If your first email or regular mail gets you no answer, keep on trying until the customer gives up and contacts you back.
3 – Stop Work
Now, if you definitely are not able to collect your money either by calling, sending emails or physical mail to the debtor, your best option is to stop offering your pay per head bookie services to such individual.
If the client failed to pay you, by not offering your bookmaking solutions anymore you are at least avoiding future unwanted similar incidents.
For example, if there is a customer that has failed to pay you despite your contact attempts, and the client has a few future pending bets, feel free to void those wagers and shut down the account.
4 – Negotiate
If you do get to contact the debtor, but the person tells you that she is not able to pay you, then you can opt for negotiating with the client in order to come up with some sort of payment arrangement.
Of course this scenario can only take place if you know the client as someone that has always paid on time, and that has been a part of your bookmaking portfolio for a while.
On the other hand, if the debtor has been with your pay per head bookie company just for a short period of time and gives you a negative answer about his willingness to pay up, then your best bet is to go for option 3 and stop offering your services to the person right away.
5 – Hire a Collector
Getting the profits from your betting and gaming operation doesn’t mean that you have to do the collections yourself.
In fact, it is better if you step aside and let someone else to act as the debt collector.
Doing this allows you to keep focused on recruiting more clients in order to continue with your expansion plans, and is also very good because it is not uncommon that the sports betting agent is friends with his players, so collecting cash can sometimes feel uncomfortable.
However, when it is another person that is doing the collections, it will be more difficult for a client of your pay per head bookie company to avoid paying for your bookmaking services.